Editing Gambling (section)

===Fixed-odds betting===
{{Main|Fixed-odds betting}}
Fixed-odds betting and [[Parimutuel betting]] frequently occur at many types of sporting events, and political elections. In addition many [[bookmaker]]s offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various [[stock market index|financial indices]], the winner of [[television]] competitions such as ''[[Big Brother (franchise)|Big Brother]]'', and [[election]] results.<ref>{{cite web|url=http://www.abc.net.au/am/content/2004/s1229517.htm |title=US election betting backs Bush |publisher=ABC.net |date=2004-10-28 |access-date=2012-09-22}}</ref> Interactive [[prediction market]]s also offer trading on these outcomes, with "shares" of results trading on an open market.

====Parimutuel betting====
{{Main|Parimutuel betting}}
One of the most widespread forms of gambling involves betting on [[horse racing|horse]] or [[greyhound racing]]. Wagering may take place through [[parimutuel betting|parimutuel]] pools, or [[bookmaker]]s may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

====Sports betting====
{{Main|Sports betting}}
[[File:Tokyo Racecourse 3.jpg|thumb|left|[[Tokyo Racecourse]] in [[Tokyo]], Japan]]

Betting on team sports has become an important [[service industry]] in many countries. Before the advent of the internet, millions of people played the [[football pools]] every week in the [[United Kingdom]]. In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as [[NCAA Men's Division I Basketball Championship|NCAA basketball tournament]] Bracket Pools, [[Super Bowl]] Squares, [[Fantasy sport|Fantasy Sports Leagues]] with monetary entry fees and winnings, and in-person spectator games like Moundball.